[D] Impact of EU AI Act on your work?

Greetings r/MachineLearning. I am studying the impact of EU AI Act on data science practitioners, especially those working on models that are classified as high risk. I am outside EU, so it has not impacted my company yet, but my country is drafting a similar one, and I am worried about its impact.

From my understanding, the act covers a broad range of models as high risk (https://artificialintelligenceact.eu/annex/3/), including credit scoring and insurance pricing, and imposes a very high standard for developing and maintaining those models.

Prior to the act, some companies in credit scoring can try lots of models on an arbitrary scale (usually small) to test out on real customers, and if it succeeds, will go on deploying on a larger scale. Does the Act completely shutdown that practice, with the administrative cost of compliance on small test models now insane? Any one with experience working on high-risk models as defined by the Act?